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Wednesday, June 8, 2011

ADP in talks to sell majority stake in ground handling, (ADP)

Aeroports de Paris (ADP.PA) said on Wednesday it was in exclusive talks to sell a majority stake in its ground handling activities to airport services operator Groupe 3S. Groupe 3S, backed by partner Groupama Private Equity, has offered to purchase 80 percent of the business, which had 2010 sales of 141 million euros, ADP said in a statement. By late 2014 and early 2015, Groupe 3S proposes that Aeroports de Paris have an option to dispose of its remaining stake and Groupe 3S could have an option to purchase the residual stake in the ground handling activities.

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